GIVE MISS CALL ON :- +91 99774 99927




Gold prices held onto the last session’s gains early on Monday, extending a rally from a 17-month low, as the U.S. dollar traded largely steady. Spot gold was up 0.1 percent at $1,214.76 an ounce, building on its 0.5 percent gain on Friday. The metal had also hit its lowest since March 2017 at $1,204 an ounce in the previous session. U.S. gold futures were little changed at $1,223.4 an ounce. The dollar index, which measures the greenback against a basket of six major currencies, was up 0.1 percent at 95.243. On data front, U.S. job growth slowed more than expected in July as employment in the transportation and utilities sectors fell, but a drop in the unemployment rate suggested that labor market conditions continued to tighten. Among other news, China proposed retaliatory tariffs on $60 billion worth of U.S. goods ranging from liquefied natural gas (LNG) to some aircraft on Friday, as a senior Chinese diplomat cast doubt on prospects of talks with Washington to solve their bitter trade conflict. China’s central bank said it would require banks to keep reserves equivalent to 20 percent of their clients’ foreign exchange forwards positions from Monday, in a move to stabilize the yuan currency. In a positive development, North Korea and the United States on Saturday sparred over an agreement reached at a landmark summit in June for the Asian country to end its nuclear program, as Washington called for maintaining sanctions pressure against Pyongyang, which in turn said it was alarmed by U.S. intentions. 


Oil prices rose on Monday after Saudi crude production registered a surprising dip in July and as American shale drilling appeared to plateau. Markets also anticipated an announcement from Washington due later on Monday detailing renewed U.S. sanctions against major oil exporter Iran, set to be reinstated on Tuesday according to a U.S. Treasury official. Spot Brent crude oil futures were trading at $73.68 per barrel on Monday, up 47 cents, or 0.6 percent, from their last close. US WTI crude futures were up 37 cents, or 0.5 percent, at $68.86 barrel. U.S. energy companies last week cut oil rigs for a second time in the past three weeks as the rate of growth has slowed over the past couple of months. Drillers cut two oil rigs in the week to Aug. 3, bringing the total count down to 859, Baker Hughes energy services firm said on Friday. Many U.S. shale oil drillers posted disappointing quarterly results in recent weeks, hit by rising operating costs, hedging losses and a fall in crude prices away from 2018 highs reached between May and July. Outside the United States, top crude exporter Saudi Arabia pumped around 10.29 million barrels per day (bpd) of crude in July, two OPEC sources said on Friday, down about 200,000 bpd from a month earlier. 


London copper edged lower on Monday as the dollar index ticked higher, making metals more expensive for holders of other currencies, even as China’s move to place retaliatory tariffs on $60 billion of U.S. goods heightened trade tensions. China’s finance ministry on Friday unveiled tariffs on 5,207 goods imported from the United States, with the extra levies ranging from 5 to 25 percent. Items earmarked for the 25 percent tariff include ore and concentrates of copper, zinc and nickel. China in 2017 imported 432,944 tonnes of copper concentrate from the United States, its eight-biggest supplier, according to Chinese customs data. Three-month copper on the London Metal Exchange was down 0.3 percent at $6,158.50 a tonne, after posting a 1.1 percent jump on Friday. SHFE COPPER The most-traded September copper contract on the Shanghai Futures Exchange was up 0.2 percent at 49,290 yuan ($7,224.52) by the mid-session interval. On supply front, China’s eastern Shandong province has unveiled new targets to cut steel and coal production capacity, eliminate outdated aluminium smelters and change to cleaner energy as part of a broader nationwide anti-pollution push. On economic development, China’s central bank said it would require banks to keep reserves equivalent to 20 percent of their clients’ foreign exchange forwards positions from Monday, in a move to stabilise the yuan currency.

MCX TipsStock Market LiveFinancial Advisory Company in IndoreStock Advisory Company in Indore ,  Intraday stock Tips , Financial Advisory company  , Sebi Registered Advisory company , Capitalstars Video Gallery

CapitalStars Provides  Free Trial To Our Client…

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647.

Leave a Reply


Ouch! There was a server error.
Retry »

Sending message...


CapitalStars FORUM